Brokerages Set Design Therapeutics, Inc. (NASDAQ:DSGN) Target Price at $16.50

Design Therapeutics, Inc. (NASDAQ:DSGN) has earned a consensus rating of “Moderate Buy” from the eight analysts that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, six have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $16.50.

Several analysts recently weighed in on DSGN shares. Royal Bank Of Canada lifted their target price on shares of Design Therapeutics from $13.00 to $14.00 and gave the company an “outperform” rating in a report on Tuesday, March 10th. Wall Street Zen upgraded shares of Design Therapeutics from a “sell” rating to a “hold” rating in a report on Sunday, May 10th. Cantor Fitzgerald started coverage on shares of Design Therapeutics in a report on Tuesday, May 12th. They issued an “overweight” rating for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Design Therapeutics in a report on Monday, April 20th. Finally, Oppenheimer lifted their target price on shares of Design Therapeutics from $18.00 to $21.00 and gave the company an “outperform” rating in a report on Monday, May 4th.

Design Therapeutics Stock Performance

Design Therapeutics stock opened at $13.35 on Monday. Design Therapeutics has a fifty-two week low of $3.33 and a fifty-two week high of $17.25. The firm has a 50 day moving average price of $12.38 and a 200 day moving average price of $10.98. The company has a market capitalization of $833.80 million, a PE ratio of -11.12 and a beta of 1.63.

Design Therapeutics (NASDAQ:DSGN) last posted its earnings results on Tuesday, April 28th. The company reported ($0.29) earnings per share for the quarter, beating the consensus estimate of ($0.36) by $0.07. As a group, equities research analysts forecast that Design Therapeutics will post -1.36 earnings per share for the current year.

Hedge Funds Weigh In On Design Therapeutics

Institutional investors have recently modified their holdings of the business. Elmind Capital LP acquired a new position in shares of Design Therapeutics in the fourth quarter worth $1,950,000. DLD Asset Management LP acquired a new position in shares of Design Therapeutics in the third quarter worth $376,000. Baker BROS. Advisors LP grew its stake in shares of Design Therapeutics by 30.4% in the fourth quarter. Baker BROS. Advisors LP now owns 2,233,099 shares of the company’s stock worth $20,946,000 after acquiring an additional 520,217 shares in the last quarter. AlphaCentric Advisors LLC grew its stake in shares of Design Therapeutics by 4.8% in the first quarter. AlphaCentric Advisors LLC now owns 21,231 shares of the company’s stock worth $226,000 after acquiring an additional 969 shares in the last quarter. Finally, Strs Ohio grew its stake in shares of Design Therapeutics by 77.4% in the first quarter. Strs Ohio now owns 44,700 shares of the company’s stock worth $476,000 after acquiring an additional 19,500 shares in the last quarter. Institutional investors and hedge funds own 56.64% of the company’s stock.

Design Therapeutics Company Profile

Design Therapeutics, Inc a biopharmaceutical company, researches, designs, develops, and commercializes small molecule therapeutic drugs for the treatment of genetic diseases in the United States. The company utilizes its GeneTAC platform to design and develop therapeutic candidates for inherited diseases caused by nucleotide repeat expansion. Its lead product candidates for potentially disease-modifying treatment comprises Friedreich Ataxia, a monogenic, autosomal recessive, progressive multi-system disease that affects organ systems dependent on mitochondrial function that brings to neurological, cardiac, and metabolic dysfunction; Myotonic Dystrophy Type-1, a dominantly-inherited, monogenic progressive neuromuscular disease affecting skeletal muscle, heart, brain, and other organs; Fuchs Endothelial Corneal Dystrophy, a genetic eye disease characterized by bilateral degeneration of corneal endothelial cells and progressive loss of vision; and Huntington's Disease, a dominantly inherited, monogenic neurodegenerative disease characterized by movement, cognitive, and psychiatric disorders.